The Japanese financial giant acquired a 15% stake in WealthNavi in February. It is now launching a tender offer of 1950 yen a share, an 84% premium on the fintech’s closing price on Thursday.
WealthNavi is Japan’s biggest robo-advisor, with more than 1.3 trillion yen in assets under management. In 2020, MUFG Bank and WealthNavi teamed up to develop a robo-advisor for the bank’s customers.
Explaining the decision to buy out WealthNavi, MUFG says the fintech will help accelerate the development of its Money Advisory Platform and boost its asset management capabilities.
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